RNCOS White Paper: Global Electric Vehicle Sales to Reach 2.9 Million
Units by 2017
The Global electric car market has been seeing a substantial progress with some
distinguished landmarks in terms of sales, international R&D efforts, and augmented model
diversity, proposing a positive position for the industry, says RNCOS in its recently released
The Global electric car market has been witnessing a considerable progress with some notable
milestones in terms of sales, global R&D efforts, and increased model diversity, which
suggests an optimistic outlook for the industry. In 2012, the total number of the Electric
Vehicles sold globally accounted for nearly 1.3 Million Units from around 1.0 Million Units in
2011. Further, in future the market sale is anticipated to grow at a CAGR of around 17%
during 2012-2017 to reach 2.9 Million Units by the end of 2017.
Emphasizing on the opportunities in the emerging market, Shushmul Maheshwari, CEO, RNCOS
said that increasing the focus on the charging infrastructure for electric vehicles would pave
way for higher vehicle adoption. Further, an uptrend could also be seen in the market with
the introduction of more efficient and reliable batteries with better driving range, less weight
and recharging time for the cars.
Our Analysis suggest that the gradual tightening of global fuel-efficiency standards is forcing
automakers to assess their options, including the application of advanced technology which
would propel this industry to large extent in the coming future. In addition to this, with
Automaker’s advanced green-car engineering programs, electric cars are expected to have a
major impact in the auto industry given advantages in city pollution, less dependence on oil,
and expected rise in gasoline prices. Also, World governments are pledging billions to fund
development of electric vehicles and their components which would lead to more affordable
and practical electric cars on the market in the near future.
The Global electric car market is thus expected to flourish with Hybrid and plug in electric
vehicles becoming an increasingly important part of the automotive market. RNCOS acts as
your growth partner in all your business endeavors, be it product launching, geographic
expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business
flourish by studying the market dynamics, collating with your business and devising the right
To get a complimentary copy of the white paper, please visit: http://rncos.com/IndustryWhitepapers.htm
RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer
in syndicate market research, our vision is to be a global leader in the industry research space
by providing research reports and actionable insights to companies across a range of
industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive
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associations, and Government agencies worldwide.
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